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60886
 Dogecoin (DOGE) suffered a setback in its recent "breakthrough journey" - it finally rose to a high of $0.1859, but failed to hold the key resistance of $0.1850. It then started a callback mode, not only falling below the $0.180 mark, but now even the $0.1780 level and the 100-hour simple moving average have fallen. More importantly, the key upward trend line on the hourly chart has also been broken. Where will this callback go? From "shooting high" to "pullback", Dogecoin stepped on these key nodesPreviously, after Dogecoin stabilized above $0.1650, it started a rising trend following the rhythm of Bitcoin and Ethereum. The bulls worked hard all the way, first breaking through the resistance of $0.1750, and taking advantage of the trend to push the price above $0.1800, reaching a maximum of $0.1859. The momentum was once strong. But the good times did not last long. Before the resistance level of $0.1850, the bulls failed to continue their efforts and the price began to fall back. It is currently approaching the 50% Fibonacci retracement of the rising trend from $0.1568 to $0.1859, and the upward trend line that originally provided support at $0.1750 on the hourly chart failed to withstand the selling pressure and fell directly below, making the short-term trend passive.  Key points in the long-short showdown: $0.168 becomes a “lifeline””Now the situation of Dogecoin is very clear. Whether it can stop falling and rebound depends on the performance of key support levels: 1. If the support can be held, there is still a chance for a reboundIf the price can stabilize above $0.1680 - this position is not only an important support, but also the 61.8% Fibonacci retracement level of the above-mentioned upward trend, which is full of gold - then the bulls may still have the possibility of a comeback. The resistance on the rebound is also very clear: first, the direct resistance near US$0.1760 must be overcome, then US$0.1800, the previously lost mark, and then the "old rival" of US$0.1850. If the closing price can stabilize at US$0.1850, there is a high probability that it will attack US$0.1920 in the future, and may even hit the integer mark of US$0.20. The further target can be US$0.2120. 2. If the support fails, we may explore lows again.Dogecoin’s decline may intensify once the $0.1680 support is broken. It will first test the support near $0.1700, and then go down to $0.1715 (the logic of the original text here is adjusted to a smoother support order, arranged from high to low by price). If these positions cannot be held, it may fall back to $0.1565 or even lower $0.1520 in the short term. Technical indicators flash "red light", indicating bearish bias in the short termJudging from the hourly technical indicators, the current short-term trend of Dogecoin is not optimistic: the MACD indicator is accelerating and weakening in the bearish area, indicating that the short momentum is still being released； The RSI indicator has been below the 50 level, indicating that the buying power is insufficient and the bulls are temporarily at a disadvantage. To sum up, the current core gaming point of Dogecoin is between the support of $0.1680 and the resistance of $0.1800. Hold on to $0.1680, there is still a chance to resume the rally ； Once it loses, be prepared for further pullbacks. For traders, the most important thing to do right now is to keep an eye on these two key price levels and adjust strategies according to indicators and price trends. After all, in a volatile correction, finding the right rhythm is more important than blindly following the trend~ The opportunity is fleeting, thank you for your attention! 👇 Don’t let the trap of air coins swallow up your principal, Tudou will take you to enjoy the entire bull market! If you are interested, you can go to the homepage and read the pinned article! Or +V: TGMM03 |
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